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KICU
Jan 11, 2013 4:00am PST
to the debt ceiling debate. so early on in trade today, we will see more follow-through from the strong wednesday-thursday trade, but perhaps expect a little bit of profit-taking in the last hour ahead of the weekend press cycle. > > what are you seeing as far as volume, and did growth in china have anything to do with this latest rally? > > right, no, absolutely. first and foremost, china. the chinese trade data from wednesday night into thursday morning was exceptionally strong, exceeding analysts' expectations by 50%. it suggests or gives the hint that perhaps the global and domestic economies are both a little bit stronger than what some of the data is perhaps suggesting. that would be welcome news for federal reserve policymakers. your second point, volumes - volumes have been very strong at the start of the new year. even the s&p futures for example, yesterday traded over 1.6 million contracts in its heaviest volume day of the year, so, volumes are strong, and there is a lot of new money entering the market - 401(k)s, pension plans, whatever else - so look for volumes to remain el
ABC
Jan 13, 2013 8:00am PST
take the debt ceiling off the table. but if not mint the darn coin." 24 hours later, the treasury department said no way. it's not going to happen and closed the doors. make the case for why you were for it. >> the thing you have to understand, the debt ceiling is a fundamentally stupid and -- but dangerous thing. we have congress that tells the president how much he must spend, tells him how much he's allowed to collect in taxes. he says okay there's a difference there. i've got to borrow it. no, you can't borrow it. so the whole debt ceiling thing itself is a crazy thing and forces the president to do something illegal. either to defy congress on what it told him to spend or defy them on borrowing and told him not to and have the weird loophole which everyone agrees is crazy. but is a loophole that says that the secretary of the treasury can mint a coin for any amount which is supposed to be for commemorative pieces but does avoid -- does offer a way to bypass this and all that's really doing is the way to bypass the debt ceiling. it isn't even printing money but saying, hey, we
FOX News
Jan 8, 2013 1:00pm PST
of the debt ceiling and i guess by definition, your party, and stammerin and yammerin? >> let's get 16 of them and say goodbye to the debt. think what they could print aluminum coins and say they are worth a trillion dollars. we need to do something to do with run away deficit spending. >> neil: we never do. many argue that your party had a chance in the latest cliff deal and was to settle it? >> we have resolved the tax hikes. now, the issue is spending. i wish we could have. i wish we had a president that would have agreed there was a spending problem. he told the speaker he doesn't think there is a spending problem. last thing we need for treasury to mint a new coin made out of platinum that would weigh, 44 million pounds. i would sink the titanic. you know, this is the kind of things going on in d.c. that we have to draw attention to. >> neil: i hope cooler heads and calmer and less crazy heads will prevail. >> good to be with you. >> neil: invoking an amendment to seek racial equality will -- with debt piling up, pat gudell it's not a wonder that americans are not rising up. >> this is he
FOX News
Jan 9, 2013 6:00pm EST
is negotiated on the debt ceiling before. >> the republicans called him transgent and arrogant. last time around. there is bad feelings there. >> bret: democrats may say it's a badge of honor. >> yeah. people like me say no. this is one, i think everybody is expecting this choice. i don't think it will have trouble going through. the hearings are what is important here. getting concessions from the nominees, to show where the administration wants to go moving forward. how they are going to be carried out. >> despite hagel you both suggest could be a bumpy ride and close vote. you both suggest that all the nominees will likely get votes necessary to get through. but there is a broader policy discussion that happens in these hearings. >> look, every administration when they go through the process of nominees in the first or the second term, you are in essence paying for it. >> you are able to extract concession. you spend time on it. the more time you spend on the nomination the less time you spend on other things. they require the administration to create quick policy. this is the first time that
MSNBC
Jan 8, 2013 3:00pm PST
connell. mcconnell wouldn't take the debt ceiling off the table, but he wouldn't commit to doing it. and when you have boehner saying it's a better point of leverage with sequester, he's politically wrong about that. sequester is terrible, terrible program cuts. but it's a lot less horrible than the debt ceiling. so any time you're thinking that you have to bargain over that, you are bargain around that and the president can stand firmer on that than he could, i think, on the debt ceiling crisis. so i think his strategy of saying i'm not going to negotiate with you on that is paying off. >> now, jared, it was interesting to me when newt gingrich who did close government in the '90s, newt gingrich predicted that the republicans were in on this. watch this. >> everybody's now talking here comes the debt ceiling. i think that's frankly a dead loser. because in the end you know it's going to happen. the whole financial system is going to say this will be a gigantic problem. you can't be responsible. and they'll cave. >> when you have newt gingrich saying they'll cave. and newt gingrich did this,
KRON
Jan 6, 2013 8:00pm PST
negotiations. now. he's back to face new battles over spending cuts and raising the country's debt ceiling. the president could also announce nominees for key positions in his cabinet as soon as tomorrow. with the fiscal cliff beginning to fade from the minds of many americans a new fight is heating up on capitol hill. a new deal over the debt ceiling is looming in the not-so-distant future. we go now to elizabeth corridan to check up on both sides and how they're preparing to get a new deal in place. >> "i believe we need to raise the debt ceiling, but if we don't raise it without a plan to get out of debt, all of us should be fired." >> reporter: strong words for a new congress, the new years deadline for the so-called "fiscal cliff" has come and gone. now lawmakers start a new session under pressure to avert another financial crisis -- this time over raising the debt ceiling. if an agreement isn't reached by late february or early march, the united states risks defaulting on its financial obligations. the argument this time around will be over how much congress will agree to cut spendin
PBS
Jan 9, 2013 7:00pm PST
the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a decision. he could recommend the president
CNBC
Jan 7, 2013 3:00pm EST
ceiling debt bait coming. peter, what's your take? >> well, i think the debt ceiling, we've been through that before -- once before. this second time i think it's going to be actually maybe too much to say a piece of cake, but we've seen it before and i think that we will sail through that. and earnings, i'm looking at earnings to be probably sideways this past quarter. going into 2013 i think it's going to be one heck of a year. >> you mean a strong year? >> yes. strong. >> and you think stocks react to that? >> i do. i think they will react very strongly. i think there's a lot of risk, uncertainty out there. but on top of that, i think you will see stock buybacks. and i also still think you will see some dividend increases which are great for investors. >> brian, do you think it's going to be a piece of cake the debt ceiling discussions? >> what? >> that's what he said. >> this has been a market place that since 2007, 2008, that reacts to every little sound bite. we're going to see some volatility during every time of situation or news bit that comes out of washington. this is not goin
CNBC
Jan 8, 2013 4:00pm EST
and everyone is looking at the u.s. saying how will the u.s. cope with the next thing which is the debt ceiling in the revolution, in my view, is on our hand but eeve got to get it volumed of. otherwise, we will continue to destroy confidence. >> what's your expectation for tween in the u.s., klaus? >> given the washington dysfunction. the washington dysfunction will hopefully come to more common sense, and i hope churchill is right this, that we try out everything before we find the right thing. won't be good that we found it now, sooner rather than later, because the whole debate has been going on for too long. when you look at end market, some of the things we see in the u.s. are pretty encouraging. aerospace, a very important stli for us as well as for the u.s. i mean, it's going strong. continuinging to strong. airbus needing more than eight years continues. automatic. great last year and we see this year could be another good year and a lot of people are talking about build rates, car values going to 2007 level and after four years of total nothingness in this market. building in construc
CNBC
Jan 11, 2013 3:00pm EST
this debt ceiling debate to have? >> we're quite worried about it. we hope they don't shoot themselves in the foot. the good thing is the market saw in december even though there was a lot of fighting, ultimately they did the right thing so maybe it doesn't have to sell off as much before. >> i'm sorry, what does that mean? shoot themselves in the foot? does that mean they should do the right thing and stop borrowing 1 trillion a year. >> michael, you're right. we already shot ourselves in the foot. >> shooting ourselves in the foot would be coming up with a deal before the deadline, not a week after the deadline after they scare the bejabers out of everybo everybody. >> in 2011 they raised the debt ceiling and promised to cut $1.2 trillion. guess what? they punted on that one. now they are one sequestration in arrears. they owe us two and we're not getting any. that's not shooting ourselves in the foot. it's shooting our children in the head. >> i would argue that they did the -- i would argue they absolutely did not do the right thing. they probably should have let things lie and sta
MSNBC
Jan 7, 2013 5:00pm PST
debt ceiling deadline, more republicans come out in support of a government shutdown. the gop's misinformation campaign continues. john nichols joins me with that discussion. >>> and later, the white house has a tough road ahead on gun control. now the administration is getting pushed back from some democrats. i'll talk with val demmings, former chief of police in orlando, florida. stay tuned. officemax can help you drive supply costs... down... ...and down. just use your maxperks card and get a case of x-9 paper for only 1-cent after maxperks rewards. find thousands of big deals now... ...at officemax. iimagine living your life withss less chronic low back pain.. imagine you with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. antidepressants can increase these in children, teens, and young adults. cymbalta is not for children under 18. people tak
MSNBC
Jan 10, 2013 5:00pm PST
the republican debt ceiling ruse. americans living in poverty is at an all-time high. senator bernie sanders is here with the outrage on inequality. >>> junior seau's test results may finally push the nfl to address head injuries. we're taking a look into the findings. >>> oscar nominations were released today. but how heavy will politics weigh with the academy? >> they stay here, they will be taken. probably not alive. >> david edelstein gives us the scoop. >>> good to have you with us tonight, folks. thanks for watching. another group of parents received the terrifying news today when a shooting erupted at their children's school. at the exact time vice president joe biden was meeting with groups on solutions to gun violence a gunman opened fire at a high school in bakersfield, california about 120 miles northwest of los angeles. police say a 16-year-old shooter was armed with a shotgun. at least two people were shot, including one student who was in critical condition. there is usually an armed police officer at the school. but he was not there today. the gunman was stopped by a teacher a
FOX News
Jan 6, 2013 10:00pm PST
trying to win over american support with more public campaign style tactics. on the debt ceiling essentially the credit card limit shall the president is calling on congress to raise that ceiling without a fight. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already wracked up. if congress fuses to give the united states ability to pay for bills on time. the consequence could be sc catastrophic. the last time our families and businesses suffered for it. >> congress has about two months to fix the debt ceiling before the u.s. may have to default on some bills. >> how is that tough talk going over with republicans? >> not very well. >> republicans who agreed for the president's push for higher taxes during the fiscal cliff battle, now want to tackle spending and raising the debt limit as part of the spending problem. we want more bipartisan negotiations and less campaigning. >> and it looks like the second term of barack obama is going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to
FOX News
Jan 7, 2013 1:00pm PST
of in budget fight and we will see this as a protracted battle on the debt ceiling, on the sequester and continuing resolution. we will see this over and over again over the next six to nine months. >> neil: one of the things i love about not only your reporting but your akron is you cut to the core of the problem. and you explain to me, maybe i was a dope after the fact, i realize reading your account of this, that is why we are not getting anything done because they just don't think we have to. >> and let me relate one other thing that i found was really fascinating -- >> neil: that the president watches me all the time? i already know. but go ahead. >> we have the whole fiscal cliff debate. there were two fiscal cliffs. the tax cliff and then the spending cuts and sequester cuts hand is fascinating with the discussions is speaker boehner told me it wasn't until the second-to-last day after five weeks that the president even brought up the issue the sequester because president obama who created the sequester remember during the debt limit when they couldn't reach a resolution on th
FOX
Jan 6, 2013 5:00pm PST
earning more than $1.3 million a year to pay 75% tax. >>> a debate over the debt ceiling is heating up. >> people say i'm not going to pay my bills unless you stop buying stuff. well, stop buying stuff so you don't have a future bill. >> the fight on capitol hill over spending cuts. >> and the new legislation aimed at preventing mass shootings. >> and a massive brawl at a louisiana mall. ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] ♪ no more paper anything. safeway presents just for u. ♪ save more. save easier. saving more, starts now. just for u on the safeway app. . >>> the so-called flash mob in louisiana this weekend ended in a millionee and emptied an entire shopping mall in baton rouge. according to witnesses about 200 young people gathered in the mall's food court and apparently answering a notice on a social website. a fight broke out and people started to run and jam exits. there were reports of arrests, but no reports of serious injury or damage. >>> president obama faces a full agenda as he returns from vacation. the president
FOX News
Jan 10, 2013 6:00pm PST
what does he think about the gun control debate, the debt ceiling. what does he think about the republican party, the democratic party? does he intend on running in 2016? all of that plus his thoughts on the miss alabama controversy and bill maher. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dr
FOX News
Jan 10, 2013 9:00pm EST
and he said that he's not going to allow the debt ceiling debate to be died to spending cuts which we desperately needs. he obviously -- he wants a fight. what do you make of the strategy that he's employed. >> i think what's happened to him is he feels that by winning a second term, with a slight addition of democrats in the house and the senate he now is, you know, king of the the world to quote an oscar winner of bygone days. and you noticed in these lists, look at the list of the major appointees, starting with brennan and hagel and these are nobody of independent stature. it's not like the first term where he had a clinton, where he had a gates, where he had people who could be a team of rivals. this is a team of essential, you know, fact totems. he wants to rule and he wants to govern and he will not let anybody stand in his way and i think that's what he's saying and he will take on any fight in order to get his people. he's announcing he wants to govern alone. >> sean: will they get confirmed? >> all of them, yes. i think in the case of hagel, i say the odds he gets a yes vote
FOX News
Jan 10, 2013 5:00pm PST
will be asked again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's mr. obama's way or the highway. again, he could use an executive order to ignore the debt ceiling and i will not be surprised if he does. so, what we have here is not a failure to communicate as they once said in the movie cool hand lou. but a president who believes he can do what he wants to do with little accountability. he has already signed executive order changing immigration rules. that was done in the middle of the night. few even know about it if this continues there will be a constitutional crisis in america. unfortunately we the people are slow to understand what's actually happening here. there is no collaboration going non
FOX News
Jan 10, 2013 8:00pm PST
in the gun control issue and probably in the debt ceiling issue, doesn't that smack of totalitarianism? i'm not going to go with the checks and balances that the founding fathers put into place. i'm going to sign my name and you're gonna do it. >> well, we still have checks and balances. we still have the judiciary. any executive order can be challenged in court. the truth is that the courts have generally upheld executive orders finding them perfectly consistent with the constitution. they have done it on important issues, too. president truman used executive order to desegregate the military when congress wouldn't act. we have along history of executive orders even on constitutional issues. i don't think they violate the separation of powers. >> bill: you do see that it will wind up in court and it will be a mess and particularly on the gun issue. now, how do you see it coming down? let's take the guns first. the house is not going to go along with the president's overall view. they may make a couple of minor tweaks here and there how do you think the president is going to handle it? >>
MSNBC
Jan 7, 2013 7:00am PST
that need to get done? things like the debt ceiling? >> well, i don't think we could afford to let it get in the way of debt ceiling. we only have two or three months to get that done. that fight is getting frankly much more difficult than the fiscal cliff was. we have the debt limit which the president quite rightly has said he won't engage on that. we can't hold that kind of a revolver to the economy that way. but, nonetheless, the gop can shut down the government if it chooses. we have the sequester. so we have to deal with those issues. >> is that where we're headed? because there's been at least one suggestion by one republican that maybe a government shutdown is just what we need. >> well, i don't know. it didn't work out so well for the gop in 1994. i don't think it's the right thing. i would hope instead of looking forward to government shutdown we would be looking forward to finding a new way to work together in this new year. that's really what the american people are asking for. it's not too much to ask. but it will be interesting. i think that chuck hagel is going to be a chal
FOX Business
Jan 7, 2013 7:00pm EST
trillion in new revenue as we near the debt ceiling. the prospect of sequester cuts obviously facing us. the export -- expiration of funding. joining us now, republican strategist and a former political director, former fox news contributor. good to have you here. he says there is not a problem with israel or his record on iran. he is a good fellow ready to do a good job. >> i was struck by the president's language in nominating him, saying that he represents bipartisanship. of course, what the president means is he is a republican agrees with me. the problem is, he has no support among republicans, and i think a lot of democrats will be troubled by some of the things as the said. he is going to have to put up the good fight for himself to when this. lou: are you surprised. the newly elected senator from the grace to the texas who is sort of out there even ahead of the other senator from texas, john corning, just running away with this nomination. >> he is a very effective guy. he beat the establishment candidate in texas. a tremendous campaigner and will be there for a long time in tex
CSPAN
Jan 13, 2013 7:00am EST
the debt ceiling. it also removes the debate on section four of the 14th amendment. we will focus on all of this this sunday morning. it was a call. numbers at the bottom of your screen. we also want you to join us online on twitter and facebook or send us an e-mail. we will get your calls and comments in just a moment. our question, whether or not they residents can -- president can't bypass congress to raise the debt ceiling. she is preparing for his inaugural address. the president will seek a citizenship pass in a push as the debate over immigration continues here in washington and around the country. another headline getting a lot of attention is that the vice president continues his recommendations on how to deal with gun violence. tuesday he will give the president has outlined. p--- his outline. ,et's go to the hill newspaper which has one of a number of stories on this sunday morning related to the debt limit. senate democrats telling the president he may need to raise the debt limit on his own. a letter sent to the president on friday advising the white house to be prepared to
FOX News
Jan 6, 2013 1:00pm PST
item on the agenda. the debt ceiling and spending. we hope, now that the president is back do we know what his strategy is? >> he was victor in the elections and he intends to use that political capital and his campaign style success to get his message across. for example, we hit the nations 16 hadn't $4 trillion debt limit last week. that is the nation's credit card limit to pay for spending. the president is making the case publicly he wants congress to raise that limit without a fight. >> one thing i will not compromise over whether or not congress should pay the tab for a bill they already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences could be catastrophic. our entire economy could suffer for it. our family and businesses can't afford that dangerous game again. >> molly: congress has two months to fix the debt ceiling problem before the u.s. may have to default on its bills. >> jamie: what kind of reaction did we hear from republicans? >> molly: republicans agreed for the push for higher taxes during the fiscal clif
CNBC
Jan 6, 2013 7:30pm EST
congress is going to have to deal with the debt ceiling, and i'm being told, you know, the debt ceiling, the sequester and then a continuing resolution to fund government spending is going to be an even bigger fight. what do you expect in the next couple of months? >> the sequester and the continuing resolution. whenever there's an agreement, maria, we look for two elements. content and momentum. was the content sufficient, and clearly it wasn't. that's why we have another crisis coming up. also we've got no momentum. it's not as if democrats and republicans came out feeling good about this. they came out feeling bad about this, and, therefore, there's absolutely no momentum for cooperation, so markets better have the seat belt on because we're going to have more political drama in the next few weeks. we're all talking about taxes going higher on the rich, and, yet, this social security tax is going to hit everybody. what impact will this have? >> so, you're right, in terms of economics, the biggest impact is on the payroll tax because the propensity to consume or put another way how mu
NBC
Jan 9, 2013 4:00am PST
and the debt and debt ceiling and lots of discussion about that, budget cuts, spending cuts possibly coming up the top republican on the nature side they may not get to gun control until the spring. richard. >> a lot of political capital will be spent on those issues. thank you so much. >> more turbulence for boeing's dreamliner. a fuel leak on a 787 forced it to cancel takeoff and return to the gate. one day later, a different plane also at logan caught fire. it was empty at the time. united airlines, the only american airier to operate the dreamliner said it has ordered inspections of all of its 787s. it's not a serious problem given the high-tech plane but they warned it could still undermine consumer confidence. >>> the government is calling for an urgent review of the nation's arctic offshore drilling practices in the wake of a series of missteps voflg the shell oil company. this week's grounding of a shell oil rig off the coast of alaska is just the latest in a string of blunders zaents involving the company's ship and support equipment. the 60-day assessment could halt or scale back pla
FOX Business
Jan 8, 2013 6:00pm EST
the supreme court involved in the debt ceiling, and we will take you to the annual gathering of each and gadgets that the consumer electronics show in las vegas, including the world's first smart fork. i'm not making that up. they say it will appeal lose weight. stay with us. ♪ ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. gerri: we are covering in like a blanket. what is the craziest new invention? you're going to want one and will show you next. ♪ gerri: the world's biggest annual consumer electronics trade
MSNBC
Jan 8, 2013 7:00am PST
hagel as they want them to focus on what's happening with sequester and the budget and debt ceiling and other things that have direct impacts on people's lives. from a policy standpoint, does this come down to bush era neocon, that reminds them that he opposed the war. >> he did oppose the surge. for republicans this is about somebody whom they disagree with on policy and never liked that much in the senate because he wasn't the kind of senator that had a lot of friends, that played the relationship game at a high level. and so it's not like he has solid friendships that can help republican members of the senate who serve with him overlook their policy disagreements with him. ultimately, i expect senator hagel to tell members -- to tell the senate and tell republicans that he is there to do what the president asks in addition to providing his own honest counsel which we know will generally always be private. he will get roughed up and it will be good theater for us and ultimately he will be confirmed. my only caveat, he's been successful as a bisz man businessman before in the senat
FOX News
Jan 13, 2013 9:00am PST
the power to ignore the debt ceiling. >> shannon: all right sm. democrats are pointing to a section that reads that the validity of the public debt of the united states should not be questioned. they say, based on that, they would support president obama, in raising the debt ceiling without congressional approval. joining me now to talk about that and many other thicks, former mississippi governor, republican, haley barbour. thank you for coming in. >> i hope the president doesn't try to do that. to try to take away from the congress the power that the constitution directly gives the congress. that is the power to -- to spend, the power to control the debt. i know that the treasury department has announced they are not going to do it. i hope they stick to that decision because this is -- we should never have a situation where one person-- the president -- can put our country deeper, deeper, deeper in debt. we are doing a bad job of that now. it would be really bad if it was not -- if the congress let their control go. >> shannon: you saw the white house press secretary says it is no
CNBC
Jan 7, 2013 4:00pm EST
news. we think the markets are going to be much more focused on the debt ceiling debate short-term and the good news we see down the road long-term. >> jack, you know, we all just went through that whole debate over the fiscal cliff. and now we're gearing up for another fight in washington. that over the debt ceiling. how rankerous will it be? >> it's remarkable how low volatility is right now. to me it would seem investors are complacent as if we just haven't done this just the other day. yeah. i see more and more problems. i see more volatility. more uncertainty. and, you know, this is one where 2013 is ultimately a year of austerity. one where it's a rebuilding year. which means we probably want to play a lot of our equity exposure away from the u.s. to some degree. or at least away from the consumer. and then if we do get a huge pullback, i mean, if the market really chokes, perhaps there will be a buying opportunity. ultimately i think we end the year maybe mid-single digits to the upside on the s&p. >> ron where are you on this? >> i probably split the difference between
CNBC
Jan 9, 2013 3:00pm EST
to the debt ceiling fight. we'll previau bank earnings which are about to kick o.those more than anything else could drive the markets in the coming weeks and aig will not join in former chief hank greenberg's lawsuit against the same u.s. taxpayers that bailed the company out. aig ceo bob benmoschy will be here. >> first take a look at the markets. what we're seeing is we have the markets higher though it's well off the highs. up 90 points on the dow industrials and we're up 34 points on the dow jones industrial average, 13,363 and the last trade on nasdaq has given up some of the oomph of earlier and the standard & poor's 500 has a similar chart pattern with a gain on the session of just 1.5 point, eking out positive territory. gentlemen, good to see you. thanks so much for spending the time. >> hi, maria. how are you? >> let's talk about this market because you certainly have a fair amount of issues that could seem troubling, and yet we continue to see money finding a home in equities. what do you think is behind that? >> if you look over the last five months, you've had a huge risk-on rall
CNBC
Jan 10, 2013 4:00pm EST
. >> saying hello to scott. that's good. >> so in terms of the challenges, we've got the debt ceiling debate coming. i guess my question is are we going to be able to get in this market at better levels? do i want to wait and take to the sidelines and wait for a nice decline to actually buy because it definitely does feel like this market wants to go up. do i want to go in now or wait for a selloff? >> when the market pulls back a little bit, politicians are committed to provide volatility and uncertainty in this market. europe, experts at it and americans are learning pretty quickly in washington so as we move into the policy turmoil opportunities you'll get a chance to get in from a valuation perspective, but longer term as americans, this is the first time we've ever had a dialogue about how to actually create a fiscally stable country so we'll get better at this as it goes. if i want to be modestly bullish it's great that we're having this debate because 10, 15, 20 years from now we'll look at a more stable financial situation. >> that being said, i think the market if it pulls back, i d
ABC
Jan 6, 2013 8:00am PST
, and we know these three issues are coming up, the sequester, the debt ceiling and the continuing resolution to operate the government. why not sit down and not wait until the last minute to get these matters resolved? look, the biggest problem confronting the country is not taxes, it's spending. we don't have this problem because we tax too little. we have it because we spend too much. we now have a $16.4 trillion national debt, as big as our economy. that alone makes us look a lot like greece. this administration has driven spending from 21% of our economy up to almost 25% of our economy. we've got to stop using the credit card, and any opportunity we have to engage the other side in a discussion about quitting the spending spree, we're going to engage in. >> and the question is, how do you follow through on your strategy, and, you know, a lot of your allies are worried about that prospect. "the wall street journal" editorial page said "the political result would be far worse if republicans start this fight only to cave in the end. you can't take a hostage you aren't prepared to
MSNBC
Jan 11, 2013 8:00pm PST
hostage over the debt ceiling. we'll bring you the details. stay with us. if there was a pill to help protect your eye health as you age... would you take it? well, there is. [ male announcer ] it's called ocuvite. a vitamin totally dedicated to your eyes, from the eye care experts at bausch + lomb. as you age, eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. ocuvite has a unique formula not found in your multivitamin to help protect your eye health. now that's a pill worth taking. [ male announcer ] ocuvite. help protect your eye health. >>> and of course, we love hearing from our viewers on our twitter and our facebook page. many of you are responding to my interview last night with bill mcgee, a parent who opposes arming teachers in his children's school. on facebook, peggy clay bring wries if having armed teachers in school is such a good idea, why hide it from the parents? arnold suggests if we are going to arm teachers, send them to west point instead of normal colleges. then we will have qualified vigilantes. and elaine violet, a staunch supporter of th
CW
Jan 5, 2013 9:30pm CST
in washington. the president and republicans prepare to spar over the debt ceiling. >> and an incredible $1. million bid at an auction in japan. and all for one finish. -- fish. >> and ron has more with the irish in miami later in sports. >>> president obama is expected to nominate former senator chuck hagel to be the secretary of defense. the white house says that the president has not formally offered the job to hagel, a vietnam veteran but an announcement could come on monday. hagel is a former republican senator from nebraska who harshly criticized the wars in afghanistan and iraq. his confirmation hearing is expected to be con tenseious -- con tentious. the senator has made controversial comments that have upset both sides of the aisle. >>> the fiscal cliff suspension is over and now the lines are drawn for the battle or -- over the debt ceiling. >> add -- as i sad earlier this week one thing i will not compromise over is whether congress should pay the bill for a tab they have already racked up. if congress refuses to give the government
MSNBC
Jan 6, 2013 12:00pm PST
pretty much stated the republican position today. >> if you raise the debt ceiling by a dollar you should cut spending by a dollar that is the way to go forward. >> president obama insists he will not compromise raising the debt ceiling and said any future efforts to reduce the deficit must include a combination of higher revenues and spending cuts. joining me to talk about it jake sherman. senior editor for the new republic. noam wrote a book called "the escape artist." the president has declared that he will not negotiate over whether to raise the debt limit. why don't you believe him? >> well, i don't believe him for sort of practical reasons and partly for the history of his negotiating style. the practical reason is we have a couple of things coming up that he is clearly going to negotiate over, one of which is the sequester, the automatic spending cuts that they delayed for two months when they did the fiscal cliff deal. that is going to expire late february and early march. it is hard for them to say we are going to negotiate but don't call it a debt ceiling negotiation. we'll just
Current
Jan 9, 2013 3:00am PST
with immigration, it has to deal with what one hopes gun issues, with the debt ceiling, they are their band is not broad enough for them to undertake another major examination of something where they will say, hey we just did that. let's see how it plays out. you also don't have a consensus right now. truth be told, i don't think the votes are there to revisit these issues. you have a republican block that wouldn't go for anything stronger and a lot of democrats that wouldn't be there. i don't think we will get new legislation. we may get rule making but another legislative effort i don't think that will happen. >> the think about the sec, something that has come out recentlied, the sec has asked for corporations to release how -- what their political activities are. >> it's funny, i have been calling on shareholders to make the same demand of corporations for many years. one of the things, in the last moment here, i think ownership trumps regulation. we own these through our pension funds, the endowments universally have shares, mutual funds which we invest
Current
Jan 7, 2013 6:00am PST
to cut spending. >> this is more like a debt ceiling thing. >> stephanie: again. as i was saying, what eye candy for the gals to have mitch mcconnell on every sunday show. no matter where you turn, that was -- [ screaming ] okay. this sunlight hits your television just right and reflects off his glasses things can burst into flames. you need to be careful. mike in pittsburgh writes steph -- >> he's a fire starter. he did start the fire. >> stephanie: yeah, well we didn't. dear steph i keep listening to the criticism of the fiscal cliff, not getting the $250,000 limit. here's a factoid for you. in 1939, president clinton enacted the tax rate on incomes over $250,000. now, the i.r.s. and today adjusted for inflation his $250,000 is $397,000 which is exactly what the president got. president obama got the same deal president clinton got back then. i would say the country did pretty good. >> that's just kenyan voodoo. [ ding ding ] [ applause ] >> stephanie: all right. isn't it just like -- it's like an acid flashback or like a flintstones cartoon background. here we go again. >> the same
FOX Business
Jan 6, 2013 11:00pm EST
refusing to negotiate with republicans on the national debt ceiling. the republicans led by speaker boehner are determined to take up debt and spending once again. this time he says the american people are on his si. the speaker today in the republican caucus meeting behind closed doors. bigger banner making it clear that the president's refusal to negotiate will not deter him or his party and the speaker said that the esident said that he isn't going to have a debate with us over the debt ceiling. he also says that he's not going to cut spending along with a debt limit hike. fiscal cliff behind us on the focus turns to spending. speaker boehner cited a new poll, showing 72% of americans agree with him. but any increase in the debt limit must be accompanied by an equal amount in spending cuts. senator john cornyn saying that if the president inten the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new senate majority leader saying that it may be necessary to partially shut down the government in order
FOX Business
Jan 9, 2013 6:00pm EST
benefits. who can blame you? the aarp demand congress not touch benefits as it discusses the debt ceiling. there is said general agreement social security is not the most troubling program for the president calls it structurally sound but others maintain it is stable. but to academics from dartmouth say that may not be the case. they say the security administration under estimates how long they will live in under estimate as much as $800 billion short and the fund will run out of money before the government even says with people giving up smoking and eating better that live longer and demand benefits longer. forecasting has barely even changed since 1935. 77 years we do it the same way. to ignore the future social security is a big mistake now spending $49 billion more of benefits and to cover the shortfall people age 65 and over will reach 80 million and 2040 social security payments will jump 70% in the decade ending 2011. it is a system that is broken and raising the retirement age are tweaks that need to be made to see if congress has the stomach for it. what do you think? drop me an
CW
Jan 5, 2013 10:00pm PST
the president taking a solid stance on the debt ceiling. >> and our hi-def doppler radar our cbs 5 hi-def doppler radar is working overtime today. we'll give you your updated rainfall foals and plus tell you -- totals and plus tell you when your sunshine comes back in your seven day, up next. ,,,,,, ,, congress and t >>> the battle lines are already being drawn for the next showdown in washington over money. congress and the president have two months to work out a deal to raise the nation's already maxed out borrowing limit. but as cbs reporter major garrett shows us republicans are already saying no deal without spending cuts. >> reporter: the grand stage at the capitol nearly complete. so too the presidential reviewing stand just outside the white house gate. the first family's hawaiian vacation carved up by fiscal cliff drama ends today. the president used his weekly address to tell the nation that raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've
CNBC
Jan 6, 2013 6:00am EST
it further? sure. but still serious concerns on the horizon? absolutely. when we talk about the debt ceiling debate, i think we'll see that come to pass. >> dan doesn't feel like the rally was that strong. i think it was incredibly strong. we had a strong catalyst behind us. vix loves to go down when we get behind the catalyst or when the market rallies. and the market, we've done both of those things this week. the vix just got crushed. with the market at a five-year high, should i buy protection? when the vix is low and the market's high, is a little bit like buying life insurance. i write that check every year, it's never paid off. doesn't mean it's a bad trade. it doesn't mean i'm unhappy. >> i would side with scott in terms of the rally being strong. two huge days of gains and no huge pullback. that would be been the easiest price action. >> i guess my point is, we were sitting at 1400 a few days ago when the debt ceiling debate was at its fury here. we went quickly from support to resistance here. we did go in a straight line. the question was, do you chase the air? i think not. we'll
CSPAN
Jan 13, 2013 6:00pm EST
of these issues. trying to avert the debt ceiling debate by invoking the 14th amendment, cementing dosh minting the trillion dollar coin -- do you think those are viable options, would you be opposed to them being used? , i don't believe anyone should hold the -- >> i don't believe anyone should hold the american people ransom for what they could not get done in the ballot box. paying for our debts in the past -- for things we did, we borrowed money. republicans and democrats alike past these budgets -- passed these budgets. in our publicans are saying they don't want to pay for the things they voted for -- now republicans are saying they don't want to pay for things they voted for in past budget. to allow them to put conditions on the balance deal by saying we are going to ask for a ransom, devastating cuts to social security and medicare, in order to cover costs for things like the bush tax cuts, unpaid wars in iraq and afghanistan -- i agree with the president. the american people should not be held hostage with this game of using the debt ceiling as a way to try to extract what you could no
FOX Business
Jan 8, 2013 8:00pm EST
: at around the same time, the debt ceiling, that is where they think the democrats fail and the republicans are in a corner. so the republicans can risk of grabbing the feed defeat from the jaws of what would appear to be this problem. >> as you remember, it was midway through 2011. 1.5 years years ago. the president of the united states said he was going to drive us off the edge of the world. neil: to be playing it fair, he has been playing it more cleverly than the republicans. >> you are comparing the fiscal cliff where the president had all the power. >> i am comparing 2011 and the way he played an extended all the bush rates. perhaps he feels cocky. i feel like noster dominus. >> now that his job is secure, he is raising taxes. neil: democrats seem to say that we are to put you put you in another boxer and if it were up we are going with a. >> two things the sequester, which isn't on $1.2 trillion cut in the budget is not -- [talking over each other] [talking over each other] >> remember that timothy geithner said that the debt ceiling was january 31. just trying to mesh that with the
MSNBC
Jan 13, 2013 9:00am PST
the enlisted men and women who serve for the u.s. military. >> hmm. we have to talk debt ceiling, peter, because there's been this talk of minting that trillion-dollar coin. that is now off the table. so is the white house looking at another big fight here, and do you think if so it's on par with what we saw at the fiscal cliff? >> i think in many ways this one could be a lot more significant. this could be a lot more difficult than the fiscal cliff. there was a deadline for that and that was an issue that a lot of people felt would be resolved ultimately in some form the way that it was. the debt ceiling crisis does sort of put these o'two sides, the republicans and democrats and the white house and congress head to head. once again right now, the republicans have insisted that the only way they will raise that debt ceiling past the 16.4 trillion mark where it is right now is if they get dollar for-dollar spending cuts that match that raise. the president has said, his press secretary has said, they will not negotiate on this issue. on the fiscal cliff issue they were willing to negoti
Current
Jan 11, 2013 3:00pm PST
, if you think a $1 trillion coin is the only far-fetched way of getting ash the debt ceiling, you understand estimate the creativity of the american progressives. and brett ehrlich was actually a film critic we're going to run down his oscar favors. it's a friday night n "the war room," and we will be right back. ♪ [ voice of dennis ] allstate. with accident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands? >> i think it's brilliant. (vo) first, news and analysis with a washington perspective from an emmy winning insider. >> i know this stuff, and i love it. (vo) followed by humor and politics with a west coast edge. bill press and stephanie miller. >> what a way to start the day. ♪ >> jennifer: the national rifle association claims that 100,000 people have joined the nra since the nowtown school shooting. of course we don't know how many people dropped their membership following the tragedy and the nra's con trover shall comments afterwards. but 400,000 people joined mayo
CSPAN
Jan 9, 2013 12:00pm EST
, in the context of that dialogue and the need to raise the debt ceiling and the focus now on spending cuts, it will be interesting over the next few weeks to see were corporate tax reform falls out on that conversation. >> i made my way over here. >> david. can you tell us what is your top legislative priority this year? >> we have a lot of priorities. as i mentioned in the earlier comments, the first one is to encourage government and policymakers to do no harm. if we look at the game changing opportunities occurring in the energy area, it is truly revolutionary. so our first council of look to our priority is to say don't do anything that would discourage that investment and economic activity. so when we look at priorities, we first look at issues like regulatory regimes. we look to the congress and say, what else can we do to open up other areas for access? we're not talking about national parks. we're not talking about sensitive areas. we're talking about areas that have potential for vast oil and natural gas development. where the industry would be prepared to invest billions of dolla
CNBC
Jan 9, 2013 7:00pm EST
because all he does is say no and disrupt things. now, with all of the debt ceiling stuff coming, howard, this is not the kind of guy you want in that spot. >> larry, surely you're not defending the republicans using the debt ceiling as a chip in negotiations, because if you are, i think you're as bad off as the republicans in the house. >> no, i don't want to see the debt ceiling violated or default. i do not. but i think a deal has to be made, howard. and i think -- spending cuts have to be the key part of that deal. this guy has a reputation not as a spending cutter, but as a tax hiker as steve forbes just said. >> the reason republicans don't like him, he's smarter than they are. which isn't hard to do these days. the fact of the matter is, obama's correct. you can't negotiate over the debt ceiling. it was never done before, before 2011, it should never have been done. you want to know why the dollar's down 10%? >> yes. >> because we made this ridiculous deal on the fiscal cliff that increases spending. had we gone over, the market would be up and the dollar would be stronger because
MSNBC
Jan 8, 2013 8:00am PST
not reality? >> no, i actually think they have a great deal of leverage. it's not just the debt ceiling but the sequester and the continuing resolution that funds all of the government, all of which hit within basically 60 to 90 days. i think that does give that and plus, i think the public knows there needs to be serious spending cuts and entitlement reform. we're on much firmer footing than before and much more united as a party. it's up to the president to make pretty serious concessions. >> is the boehner rule going to be in place here, the boehner rule being every dollar raising the debt ceiling will require one dollar of spending cuts over the next ten years. do you think john boehner can deliver on that to his party? >> i think he absolutely can deliver. he delivered on it last time. i think he'll be able to do it again. this is actually a fight with republicans not only anxious for but needs to happen. the president has presided over four $1 trillion deficits in a row. never presented a budget that any member of his own party was willing to vote for. the democratic senate hasn't
MSNBC
Jan 8, 2013 9:00am PST
cuts, the debt ceiling, and a continuing resolution to fund the government. there are also two pieces of legislation that embarrassingly congress dropped the ball on last year are, relief for victims of hurricane sandy and renewal of the violence against women act. there is the farm bill that sets farm subsidies and food aid for the poor. there is postal reform, as the usps hemorrhaging $25 million a day and may need a bail-out, and the pie in the sky, the if only they could get their act together and actually do something wish list items, meaningful changes to the nation's gun laws and immigration reform, which the 11 million undocumented workers in this country are counting on. more than just a full plate, this is a jam packed enchilada of responsibility. joining us now from washington is the sade of capitol hill, boat shoe enthusiast and my celebrity dopplerleganger, nbc's luke russert. a man, i will say, who does not really take a vacation, luke. you have been in the trenches this whole holiday season, my friend. >> yeah, but thankfully the united states congress, the 113th got of
MSNBC
Jan 11, 2013 5:00pm PST
platinum if republicans hold america hostage with the debt ceiling. the president can legally call on the treasury department to mint a trillion dollar platinum coin to pay off the country's debts. the coin must be platinum. kit be any size, and it can be assigned a trillion denomination. this is kind of a crazy option, but then again republicans holding america hostage over the debt court of appealing is even crazier. some economists think the platinum coin could send the economy into a tailspin, but others think it's a great idea. pulitzer prize winning economist paul krugman said president obama should absolutely mint the coin if republicans try to force america into default. klugman also said that john boehner's face should bonn the coin because without him, the coin wouldn't be needed. meanwhile, republicans have been lying to americans on the debt ceiling for weeks, and now the fox news misinformation machine in high gear, hitting the platinum coin issue. neil cavuto put up this misleading graphic during his show on thursday. it claimed the coin would weigh 17,000 tons, about
MSNBC
Jan 12, 2013 12:00am PST
hostage over the debt ceiling. we'll bring you the details. stay with us. >>> and of course, we love hearing from our viewers on our twitter and our facebook page. many of you are responding to my interview last night with bill >>> and of course, we love hearing from our viewers on our twitter and our facebook page. many of you are responding to my interview last night with bill mcgee, a parent who opposes arming teachers in his children's school. on facebook, peggy clay bring wries if having armed teachers in school is such a good idea, why hide it from the parents? arnold suggests if we are going to arm teachers, send them to west point instead of normal colleges. then we will have qualified vigilantes. and elaine violet, a staunch supporter of the second amendment says guns in school is asking for a disaster. everyone needs to calm down and be rational. good god, has everyone lost it? keep sharing your thoughts with us and like us on facebook and on twitter using the hash tag edshow. >>> still to come, protecting athletes from brain injuries. i'll talk to chris nowinski about cte
PBS
Jan 13, 2013 8:00am PST
congress prevents it, you know creates an entirely self-inflicted shortage through the debt ceiling. how is it exactly that we're supposed to have this crisis that leads to a double dip recession? it really doesn't even make sense as a story. and yet it is one of those things that people say and by and large, are not contradicted on. >> we keep hearing from the right that we're here on the path to becoming greece, and you say that that's impossible? >> yeah. we, even if, suppose that people decided, investors decided they don't like u.s. government debt, it can't cause a funding crisis because the u.s. government prints money. it's even hard to see how it can drive up interest rates because the fed sets interest rates at the short end, and why exactly would the long run rates go up if you don't expect the fed to raise rates? it could lead to a weakening of the u.s. dollar against other currencies. but that's actually a good thing. that would make u.s. exports more competitive. that would actually boost our economy. so it's, actually impossible to tell that story, as far as i can tell. an
FOX Business
Jan 9, 2013 11:00am EST
you mean by that? and what's the context that should be in as we look to these next debt ceiling negotiations and everything else? >> well, if you look at the absolute level of debt, it is up. that hasn't changed. connell: what's our goal? >> the goal is to get below i think bernanke said 3% of gdp or something similar to that level. and again, we're high. we're very high, so i'm not coming across saying gee don't worry about it, everything is great, but that's not the point. the point is it's improving. the reason it improves connell is because tax receipts -- this is very important because tax receipts are improving. why are tax receipting improving if -- tax receipts improving because we have slow economic growth? because ben bernanke is making capital turn over. the guy printing the money keeps telling you he's going to make you take risk, and the reason he's making you take risk because it turns over capital, and when you turn over capital you have increased tax receipts. connell: up 75 on the dow right now. are we even close to a point where that kind of gravy train ends? >
FOX Business
Jan 9, 2013 1:00pm EST
as we approach this battle over spending cuts with regard to the debt ceiling we know that jack lew has been sympathetic, supportive of president and his agenda, supporting entitlements, supporting spending and what not. so what's your take whether or not we'll get meaningful spending cuts with a treasury secretary like jack lew? >> well, i think when you look at jack lew's background and compare him to say tim geithner, the present treasury secretary what you see is a couple things. one, this is a guy who knows capitol hill very well. he has spent a lot of years on the congressional staff. all of it working for democrats. he worked for tip o'neill. he worked for joe moakly. unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shrink the g
NBC
Jan 6, 2013 11:00pm PST
area. tonight, her advice for president obama as the debt ceiling looms overhead. >>> a and the rain has moved on but now clearing skies leading to chilly temperatures around the bay area right now. already down to 34 degrees. the thing that will slow your morning commute, likely to be fog down to a quarter mile in spots. coming up in a forecast, both warm and cold for the bay area. the details coming up when we come right back. >>> another budget battle is shaping up in washington. this one over rizing the debt ceiling. republicans will not agree on taking on more debt without cuts on medicare, medicaid, and other social services. >> i think tax reform ought to be revenue neutral as it was back in the reagan years. we resolved that issue. with don't have this problem because we tax too little. we have it because we spend way, way too much. we settle the tax issue. the question is now can we address the single biggest threat to america's future. that's our excessive spending. >> some say this stand-up could be worse than the fiscal cliff fight. house minority leader nancy pelosi says
Current
Jan 9, 2013 5:00pm PST
blocking hagel that's time they lose as far as the debt ceiling gun control or immigration. it's smart by the white house to draw the republicans in, and while the republicans are focusing on one issue it's like whack a mole you address something else. >> john: what are the odds they do anything about climate change? >> we haven't seen--again maybe we'll see a different approach in the second term, but having said that there is nothing from obama's past that shows he wants to go out and do these controversial things. carbon tax anything dealing with the environment, climate change, i would be surprised. if he's going to cause the freak out with the executive order of gun control, that takes up so much oxygen, and you can only have so many of those freaks outs, and he can't do it seven or eight times. >> john: i think america has seen enough g.o.p. freak outs. >> they want to do something about climate change, but it's only when the economy is humming well when we ask companies to cut down on emissions. but right now there is no room to maneuver on this at all. >> john: getting the cab
FOX Business
Jan 11, 2013 3:00pm EST
. you want to see the cliff? the debt ceiling. right? the debt ceiling -- liz: again? >> next month is starts. liz: what's that do -- >> the republicans are not going to give. they are going to say i gave you tax hikes. i want to see spending cuts. when obama says i'm not giving you spending cuts without more tax hikes, you will see the republicans cross their arms and say, i'm not playing. we're going off that cliff. liz: what is the trade if that is, indeed, the scenario? >> sell long term treasuries. they are a bad deal. i don't know if you saw these reports on the coin? have you seen that? think about it. imagine if the government printed a trillion dollars and stuck it in the treasury and said, oh, there's a trillion less. that's so irrational, or a country like ours crossing arms saying we are not going to pay. that's so irrational. that means one thing, long term interest rates up; right? bond prices down. you will see the ten year note go down and done, and interest rates in the u.s. in the long term continue to jump up. liz: in november, when you were here, the best thing g
FOX News
Jan 7, 2013 12:00pm PST
into a tail spin analysts tell us. republicans and democrats say they want to avoid reaching the debt ceiling deal at the last minute like we saw with the fiscal cliff fiasco and seems like everything in recent memory. republicans are saying they want spending cuts attached to some deal and democrats say spending cuts should be a different issue. >> if you raise the debt ceiling by a dollar, cut spending by a dollar. that is the way to go forward and we need a budget. our democratic friends haven't passed a budget in three years. >> the debt ceiling is about spending that has already occurred. you are going to say i'm not going to pay my bills unless you stop being stuff? well, then stop buying stuff so you don't have future bills but right now we have to pay the bills that have been incurred. >> shepard: the president said on saturday that he will not compromise over raising the debt ceiling. won't even put that on the table. shannon bream with the news live in washington this afternoon. how you is this strategy work out for republicans, shannon? >> shannon: the president says if they refuse
MSNBC
Jan 9, 2013 9:00am PST
tomorrow to replace timothy geithner. lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain. but the latest cabinet nomination is, surprise, creating consternation among who else, congressional republicans. after calling chuck hagen an in-your-face nomination outside of the mainstream, the pugnacious gop has already made known its displeasure with jack lew, calling his nomination controversial, a mistake, and worst of all, irritating. according to senator mike johanns of nebraska, i just think there are economic policies in this administration that haven't been well received and jack lew is in the middle of that. you heard that correctly, america, president obama intends to name a treasury secretary who agrees with his
MSNBC
Jan 13, 2013 12:00pm PST
these crises. this is coming up again in february when it's going to be time to raise the nation's debt ceiling, and there's no clear path in during that at this point. it will happen in march when they have to extend government funding, and will the government shut down if they don't? these budget battles will continue to find congress, and there's really no way out, so if we -- if congress can't resolve a lot of these issues, you probably bet that that approval rating will be and will go even lower if that's possible. >> it is possible. the numbers, as we're looking at it just a moment ago, manu and meredith, hit in the 10% range not too long ago. the question is will they go single digit? on abc this week senator joe manchin had some things to say about getting things done in both chambers. listen to this, and i'll get your reaction. >> okay. >> i've yet to have a bipartisan meeting that's been organized where republicans and democrats in the senate sit down and work through their problems. think about just in the senate we don't have that type of dialogue going on from democrats and republi
CNBC
Jan 7, 2013 1:00pm EST
success in the senate on confirmation. >> let me turn your attention to the debt ceiling debate which will ramp up in earnest to the extent it didn't already on sunday morning talk shows. you were made aware of analysis that indicates we will hit that debt ceiling maybe even sooner or than the treasury will have to start taking its ex record to marry steps even sooner than we thought. so what happens if we really get to the point where we go over, and what the next steps? what does the treasury do? >> very difficult choices. the treasury would have to prioritize bill paying. they could do it by the day. do it by the type of expense they are going to repay. presumably sovereign debt would be repaid first. but given the fact this is unprecedented, never happened before, you could have the president reconsidering his assertion that he could not use executive authority. the president said he does not believe that under the constitution he can un latry raise the debt ceiling. but some disagree and urge him to do that. he said he will not negotiate with congress at all. so you have to think
CSPAN
Jan 10, 2013 9:00am EST
deadlines over deficits, spending, debt ceiling, sequestration, and a continuing resolution to keep the government running. we also faced other domestic and international uncertainties that have the potential to drive down competence -- confidence and discourage job creation from a regulatory flood here at home to economic problems in europe and japan, to geopolitical conflicts that could erupt into war at any time. we must also be concerned about america's capacity for leadership and action, and not only in government. in this country, and this is a country that can still get big things done, do we have the leaders with the courage to put the country first ahead of their own careers, politics, ideologies and egos? can we find leaders in government who truly appreciate the role that the private sector can and must play in building a new american prosperity? the inherited of economic growth should not be an afterthought. it should be job one. economic growth must be front and center here in washington, just as it is in many state capitals across the nation, led by innovative governor
CSPAN
Jan 7, 2013 7:00am EST
will not negotiate over increasing the debt ceiling. you say despite what the business community thinks, you may have to push it to the brink again. >> the biggest problem confronting the country is excessive spending. when will we deal with it? we have watched the government explode over the last four years. we have dealt with the revenue issue. will the president lead? why should we have to bring him to the table whe ? >> senator mitch mcconnell on nbc's "meet the press." should spending be tied to an increase on the debt limit? cited a poller' that cited 72% of respondents -- what do you think? kevin is from south carolina. from new york.eve independent. guest: i am a funny person. i am in the green party i voted conservative. i have been on disability for 38 years. iwatch all of the committee hearings on c-span. i would take the new cost of living cut and offer something to the republicans like no capital gains tax. they are always talking about growth. >> here is a facebook, and. jimmy writes -- join the conversation on facebook. look for c-span. caller: we have to cut spending. it is driving th
MSNBC
Jan 12, 2013 5:00am PST
the debt ceiling hostage as they did in the summer of 2011. they will not raise the amount they can borrow. we're already slated for european levels of austerity this year. if no deal is reached, the u.s. has to start stiffing its creditors, deciding how to prioritize payments which will cause markets to freak and interest rates to spike. enter the coin. it turns out there is a subsection of the u.s. code called dominations specifications and design of coins that includes the following profession. the secretary may mint and issue platinum coins and proof platinum coins in accordance with such denominations may prexrip from time to time. the original intent of this legislation is to give the secretary of the treasury latitude to issue kmemtive coins for collectors but the plain meaning of the statute is clear. they can issue a platinum coin in any domination as the secretary of the treasury designates. the idea of trillion dollar coin advocates is the president would direct the treasury to mint a trillion dollar coin and deposit it in the bank account if he federal reserve and we have a tr
CNBC
Jan 7, 2013 6:00am EST
of the debt ceiling sight, this is going to be ugly. >> i think tax reform ought to be revenue neutral as it was during the reagan years. we've resolved this issue. we don't have that problem because we tax too little. we have it because we spend way, way too much. so we've settled the tax issue. the question is now can we address the single biggest threat to america's future? and that's our excessive spending. >> we're talking about looking at the tax code, putting everything on the table from the standpoint of closing loopholes and we know we can do that. >> we will talk more about the budget battle at 7:30 eastern time with former governor ed rendell. but, obviously, the two sides are far apart at this point. in our d.c. news today, president obama is expected to nominate former republican senator chuck hagel as defense secretary. republicans call him a controversial in your face pick. he criticized the iraq troops that opposed unilateral sanctions as iran and he once said that being gay impended effectiveness. there have been people on both sides of the aisle who have been mad abou
MSNBC
Jan 7, 2013 8:00am PST
there in washington, d.c. talking about the debt ceiling. and just earlier we were -- had the opportunity on "the daily rundown" to talk -- or kmuz me. david gregory had the chance over the weekend to speak with mitch mcconnell about shutting down the government. i just want to play for everyone exactly what he had to say. >> would you rule out a government shutdown to achieve your goals? >> what i think we ought to do is to encourage the president to actually be president. address the single biggest -- >> i understand that. my question is would you rule out a government shutdown? >> i know what your question is. what i'm telling you is i haven't given up on the president stepping up to the plate. >> mitch mcconnell seeming a little defiant of that question there. obviously we've lived through this before knowing they're willing to push us to the brink of shutdown and put the country at great peril in terms of our credit ratings and such. when you think about this fight coming up, what's your take on how it's going to play out? >> well, i agree with mitch. with senator mcconnell that i think it's
FOX News
Jan 9, 2013 7:00pm PST
and everything from the debt ceiling to gun control. for starters, vice-president biden saying today the president may impose gun control with an executive order. former speaker of the house, newt gingrich joins us, nice to see you, sir. >> good to be with you. i have to say, you have the most amazing program tonight that i can remember. >> greta: it's quite vast and varied let's say. >> remarkable. >> greta: don't want to miss any of it. and don't want to miss you either. tell me, the vice-president says the president may use an executive order for -- to impose gun control. your thoughts? >> well, the president can try to do almost anything if he wants to. the question is will he get away with it? the two natural stands are first, somebody will file a lawsuit, saying that it's illegal, and unconstitutional. but second, the house republicans have an opportunity when the continuing resolution comes up at the end of the march, to simply zero out the authority, to say no money shall be spent. now, that's so clear under our constitution, and goes all the way back to the magna carta, a co
MSNBC
Jan 9, 2013 6:00am PST
to 3% or 4%. >> couple of quick things. debt ceiling. government shutdown. do you believe the debt ceiling should be used as leverage? >> we have three impending moments. the debt ceiling, the continuing resolution to fund the government, and then the sequester spending cuts that have been delayed for 60 days. no one in the republican conference is talking about a default on our sovereign debt. but we do need to use these moments to address the spending explosion that we've seen in the last four years of the obama administration. >> are you saying you want to say debt ceiling, maybe set that aside and focus more on the other two? >> i'm saying the treasury has more than enough tax receipts every month to pay the interest on our sovereign debt. so there's nobody but barack obama who's talking about a default on our sovereign debt. we can prioritize payments on a monthly basis to ensure there's no default. then we can have the hard negotiations necessary to get spending back under control. >> you are saying, hey, don't raise the debt ceiling. make treasury -- >> unless there's real s
CNBC
Jan 11, 2013 6:00am EST
real here. >> they have to embrace it and get real, although we have the debt ceiling coming up and many people who have predicted you could see a pullback before you see things moving higher once again. >> and i agree with that. and i think that's a great opportunity to own volume telt here. it's the cheapest we've seen the vix for some time. for one reason or another, there's complacency in the market. right now, we are seeing the market continue to move higher. it's a big technical when you see the large hedge funds coming in with the high trading that catch a lot of people off guard. and they did that overnight. i think today you'll see an up session again in the s&p. >> but, jeff, do you think that these are pros putting their money in, do you think these are average individuals who have started contributing to their 401(k)s at the beginning of the year? what do you think is happening? >> i think they're seeing some remorse. some of the folks were concerned about the tax ramifications of this whole fiscal cliff situation. we see nearly a 7% move up in the s&p. so people com
MSNBC
Jan 12, 2013 9:00am PST
to consider any lawful steps to avoid a debt ceiling crisis, even fit means acting without congressional approval. the associated press reports majority leader harry reid is among those urging the president to consider options like invoking the 14th amendment to find ways around the nearly $16.5 trillion cap on government borrowing. and newark, new jersey mayor corey booker is one step closer to a senate run after filing paperwork with the federal election commission this week. meanwhile, politoco reports a top aide to democratic senator frank lawsuit enberg called booker "self-absorbed" accusing the mayor of bee trying the democratic party by skipping a run against republican governor chris christie. >>> well, joining me right now we have msnbc contributing and managing editor joy an reid and white house reporter for the "washington post." and with a hello to both of you, david i'm going to go up to you first. let's go to afghanistan with the president accelerating the withdrawal of troops right now. what did we learn from that news conference as to a timeline? >> well, alex, it was ver
FOX Business
Jan 7, 2013 9:20am EST
ceiling, are the republicans ready to take a stand on debt? this is the first full week of trading of 2013 and the opening bell is next. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today and now you're protected. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense investing. >> well, we're 30 seconds away from
CNN
Jan 9, 2013 9:00am PST
-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down. all we have from sources is that it will happen sometime this week mptd not certain if that is tomorrow or friday or over the weekend but it will happen sometime this week. we have seen already in other nominations that the president has put forward that there has been a pushback from republicans and democrats to the nominee. unclear how the lew nomination will go. i think by all accounts everyone believes that he will be able to get confirmed. but there are concerns not only from wall street but all the way to main street that he doesn't have the experience needed to tackle the big challenges ahead. >> thanks for that. let's bring you in. timothy geithner being with the president from the beginning they have faced financial hurdles together. still facing that $16.4 trillion debt ceiling coming up. why is the white house so sure j
NBC
Jan 5, 2013 11:00pm PST
the federal debt ceiling. in his weekly address, he said he will not compromise on the issues. >> if congress refuses to give the united states the ability to pay its bills online interesting consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling in 2011. >>> a whale of a price for a high quality tuna. a bluefin tuna was sold for the egive lenl of $1.7 million in auction in tokyo. the major of the sushi chain was the buyer. he said although the fish was of the highest quality and color, he was surprised at that high purchase price. the fish has already been shipped to the sushi chain where a few lucky customers got a taste. no word on whether it was worth the price. >> strong swimmers proved today that it is possible to escape from alcatraz. today was the sixth annual alcatraz winter swim. people of all ages braved
NBC
Jan 6, 2013 5:30pm PST
over the debt ceiling and cabinet nominations, the president has a lot more on his plate in the coming weeks, including a fight over guns after the tragedy in newtown. and there's word tonight about what the obama administration is planning to do. we get our report from nbc's mark potter. >> reporter: in aurora, colorado, scene of last year's moviehouse massacre, officials say a gunman killed three people in a home before firing at police. >> the suspect was hit and he has been pronounced dead. >> reporter: this as lawmakers call for more action. >> we will not have as the new normal a mass shooting every month. >> reporter: gun shows near orlando and atlanta drew huge crowds this weekend, but the decision to hold a gun collector's show near newtown, connecticut, where the school shootings occurred, drew mixed reactions. >> it seems insensitive to have the event continue. >> i believe that they should have the gun show. >> reporter: later this month, vice president biden's gun violence task force, formed in response to the newtown shootings, is expected to give its recommendations, whi
MSNBC
Jan 7, 2013 2:30am PST
leaders still clearly prepared to use the debt ceiling as leverage, nancy pelosi explained what she would do if she were in president obama's shoes. >> why do we go through this kind of exercise that embarrass everyone. >> ask the republicans. we always passed the debt ceiling when president bush was president. there should be -- this is a conversation where there should be no doubt. in fact, if i were president, i would use the 14th amendment which says that united states will always be -- >> you would go ahead and do it. >> but the congress hasn't incurred much of this debt. >> more on the president's big january agenda the white house is considering comprehensive plans to crack down on gun violence. three weeks after the sandy hook shootings in newtown, connecticut, the task force is looking at wide-ranging measures. the group is exploring ways to strengthen mental health checks. >>> in some cases the potential measures could be implemented through executive action. >> i think what we need to do first is to see what the vice president's group comes up with, what their recommendations a
CNN
Jan 13, 2013 10:00am PST
in washington will be over the debt ceiling. can president obama end this craziness and bypass congress altogether? we'll talk about the out of the box solutions and whether they would work. >>> and, finally, this is the signature of the man who might be the next treasury secretary. we'll look back through history to see if there's any loopy president. speaking of secretaries of the treasury three former holders of the office and many other statesmen and women offering advice to the president on a new gps special tonight "memo to the president, road map for a second term." tonight at 8:00 p.m. and 11:00 p.m. eastern and pacific. >>> first, here's my take. chuck hagel's nomination as america's next secretary of defense has drawn fire from people who say he's outside of the main stream. in fact, he's a pretty straight forward, traditional republican on most issues with a reluctance to go to war, born of knowledge and experience. where hagel does appear out of the mainstream in washington's world of group think is on iran. which i would argue is a good thing because washington desperately
CNBC
Jan 10, 2013 6:00am EST
to come out? you'll have the debt ceiling. until and unless that becomes a grand solution, a longer term solution where they seem like they're working together, it's very difficult to look at longs abdomen being a quarter or a half proposition. >> also looking at more volatility on the debt ceiling or, what did we just experience with the fiscal cliff? >> i know, i think it's going to be more from a price perspective. but i don't actually expect the vix to spike. the strange thing about the vix is you have to get the long positions and the options to push that up. i think this is expected volatility. i think it's going to be more of a lack of volume volatility. it's going to be one of those things where people don't want to take positions coming into that. january, i think, is going to finish positive. >> bob, thanks for joining thus morning. >> thank you. >> thank you. >>> coming up, we'll have more of the story that have us plucking this morning. plus, a new way for you to rise and is shine in the morning. plus, wake-up calls. we'll have the details when squawk comes back. some day, yo
FOX Business
Jan 5, 2013 8:00pm EST
to have a debate with us over the debt ceiling. he also says that he's not going to cut spending along with a debt limit hike. fiscal cliff behind us on the focus turns to spending. speaker ehr cited a new poll, showing 72% of americans agree with him. but any increase in the de limit must be accompanied by an equal amnt in spending cuts. senator john cornyn saying that if the president intends the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new senate majority leader is saying that it may be necessary to partially shut down the government in order to secure the fiscal well-being of our country. the looming deadline for action has been obvious. and in every instance the white house has purposely blow up the process in a shameless attempt to score cheap political points. "the washington post" reported the top ally in the senate may not be fully on board with his approach. his imperious stance, if you will. senator harry reid repordly warned mr. obama is refusa to negotiate on the debt limit and
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